Ask the Boss

How Has Brexit Affected Your Business?

Three local businesspeople talk about how Brexit has affected their businesses.

September 1, 2016 Published in the September 2016 issue of Sarasota Magazine

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Carla Rayman

Carla Rayman

Associate Broker, Your Global Agents, Coldwell Banker

“Sixty percent of our work involves foreign transactions. It remains to be seen how this all washes out, but no one has said, ‘We’re not coming to Florida.’ It’s made some people more conservative. Instead of spending $500,000, maybe they’ll go to $400,000. On the flip side, the Brits are concerned now because their health insurance and travel were not affected when they went to Spain or France to their vacation home. Now that they will no longer be part of the EU, coming to Florida will be no different except it is a longer flight.”

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Malaka Hilton

Malaka Hilton

CEO, Admiral Travel

“We haven’t seen any effect whatsoever. People are still booking London. The dollar is so much stronger that now is the perfect time to go to Great Britain. We’re calling our guests who have hotel bookings, and telling them that if you want to prepay your hotel now, go ahead and do it. Any call that we’ve been receiving has to do with safety overall and ISIS. The same with the Zika virus. They may not be going to South America, but they’re booking trips elsewhere. We’re doing more Australia, New Zealand and Hawaii.”

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David Teitelbaum

David Teitelbaum

President and owner, Anna Maria Island Resorts

“We have four resorts on Anna Maria, and we do have a lot of visitors from England. They book mostly in the summer. At the present time, we’ve not seen any effect. However, being in the EU has allowed Great Britain to be a big global financial center and that could be jeopardized. If Brexit affects their economy that will affect us. Those high-paying jobs in the financial world will be affected first and it may trickle down. If we see anything it may be next year.”

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